Analysts Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Target Price at $49.14

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $49.1429.

MLYS has been the subject of several analyst reports. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Stifel Nicolaus upped their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Bank of America upped their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, March 13th.

Insider Transactions at Mineralys Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 310,700 shares of the stock in a transaction on Friday, March 27th. The stock was purchased at an average price of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the transaction, the director owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the sale, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 162,291 shares of company stock worth $4,336,734 over the last ninety days. 25.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC grew its position in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after acquiring an additional 676 shares during the period. Royal Bank of Canada grew its position in Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after acquiring an additional 1,107 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after acquiring an additional 1,993 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Up 0.5%

NASDAQ MLYS opened at $30.56 on Friday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -12.89 and a beta of 0.69. The business has a fifty day moving average of $27.31 and a 200-day moving average of $34.33. Mineralys Therapeutics has a fifty-two week low of $12.59 and a fifty-two week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.17. As a group, analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current year.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.